Firestone Diamonds recovers 72-carat diamond from Lesotho mine

Firestone Diamonds recovered a 72-carat yellow diamond over the weekend from its Liqhobong mine in Lesotho.

The diamond was recovered together with a 22-carat makeable white stone and an 11-carat fancy light-pink stone. These diamonds will go on sale at the next tender which is due to take place in May.

This is the second diamond of around 70 carats recovered from the operation this calendar year, following the 70-carat white makeable that was sold in the March auction at a record overall price for a Liqhobong diamond.

Chief executive officer Paul Bosma said: "It was a good weekend for us, recovering the 72-carat diamond as well as the two smaller, high quality stones from within the northern, lower grade part of the pit. These recoveries will certainly assist in supporting the average value of the next sale in May."

Analysts at Whitman Howard said: "The troubled Lesotho diamond miner that is being hit by the low price for small stones from its Liqhobong mine should get a boost from discoveries over the weekend of a 72-carat yellow, a 22-carat white and a 11-carat fancy pink.

"All are apparently of marketable quality, so should jack up average prices at their next tender."

At 1020 BST, the shares were up 7.3% at 2.20p.